Nationwide has paid over four million of its customers £100 on the first day of its Fairer Share payment scheme.

The building society has given itself until 4 July to pay the money into members’ current accounts, although it has already managed to process 99.97% of payments.

In order to qualify for the Fairer Share scheme, eligible members must use Nationwide for their everyday bank and hold either a qualifying savings or mortgage product. The payment has been paid out for the last three years, is dependent on the society’s financial strength and is subject to board approval.

Nationwide has paid over £1bn to eligible members in 2025, as well as £615m in its Big Nationwide Big Thank You, which gave over 12 million eligible members £50 for helping the society to build the financial strength to purchase Virgin Money last year.

Retail director at Nationwide, Stephen Noakes, said: "We have already made excellent progress in rolling out this year’s Fairer Share payment, having surpassed four million payments in the first day.

"We are delighted to have been able to pay eligible members £100 for the third year running due to Nationwide being in a strong financial position. That strength, combined with our mutuality, meant we were able to return a total of £2.8bn in value to members in the last financial year."

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